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KPIX (CBS) 3
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Search Results 0 to 3 of about 4 (some duplicates have been removed)
CBS
Dec 28, 2012 5:30pm PST
, and the legislation they came up with, jeff, contributed o the fiscal cliff that we're facing right now. >> glor: the president says this just keeps happening again and again. nancy cordes, thank you. income taxes won't be the only taxes going up if there's no agreement. estate taxes paid by those who inherit property will also jump. here's john blackstone. >> reporter: jeff page owns 120- cre vineyard in california's napa valley. but when his great-grandfather started farming here in the late 1800s, this was cattle country. >> both sides of the family came en before the turn of the century, and farmed orchard fruit and cattle. he reporter: but much of the land he grew up on is gone, sold to pay estate taxes after his grandfather's death. had land back in the hills over there? >> yeah. >> reporter: had to sell it all. >> had to sell all of it? i reporter: estate tax? >> yes. >> reporter: his grandfather died in 1972 when estate taxes were at an all-time high: 77%. >> it was a big tax bill. it was half-a-million dollars. we sold off 150 acres; gave us hemething to pay the tax with. >> reporter: n
CBS
Dec 24, 2012 5:30pm PST
will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my lab. it's affecting all academic labs across this country. >> reporter: mowen, who studies rheumatoid arthritis at the scripps research institute in california, understands the n.i.h. decision but calls it a t aback. >> my lab will have to shut down t dearch projects that we know could have profound impacts on curing human disease. we may have to get rid of some staff members. >> reporter: the n.i.h. tells us >> secause of uncertainty in the budget awards at 90% of what was promised to researchers will be
CBS
Dec 27, 2012 5:30pm PST
negotiations as they have been during the holidays on a bill to possibly avert the fiscal cliff. those talks i'm told did not make much progress. the face-to-face conversations may fact create the possibility of a breakthrough. but right now the president has no new proposals to give his congressional leaders. he will stick with what he told the nation on friday-- raise income taxes for households earning more than $250,000, extend unemployment benefits for those americans out of work for more than six months, and try to find some other means to avert the fiscal cliff before that deadline, and tomorrow, may give us a glimmer of hope but as i said, the white house does not consider this a breakthrough, but everyone is and will be talking. >> glor: major garrett at the white house. thank you. all of this uncertainty is already affecting the economy. today, a closely watched business group reported consumer confidence has declined for a second straight month, a sign americans may continue to hold back on spending. consumers won't like what they see at the supermarket if congress doesn't pass a ne
Search Results 0 to 3 of about 4 (some duplicates have been removed)